Treasurer Jim Chalmers has unveiled the 2025 federal budget, introducing measures aimed at providing relief to various segments of the Australian population. While the government asserts that these policies benefit all Australians, certain groups stand to gain more significantly than others.
Winners
Taxpayers
All income taxpayers will experience benefits from the budget. Building upon the stage 3 tax cuts implemented last year, the government plans additional tax relief in 2026-27 and 2027-28, offering up to a $256 reduction in the first year, which will double in the subsequent year.
Medicine Purchasers
The government has allocated $784.6 million to lower the cost of medicines listed on the Pharmaceutical Benefits Scheme (PBS) to a maximum of $25 per prescription. This initiative could save families filling four prescriptions per month approximately $316 annually. An additional $1.8 billion is earmarked for listing new medicines on the PBS.
Bill-Payers
Households and small businesses will receive $150 off their energy bills, as the government extends last year’s rebates with a $1.8 billion allocation. Australians will obtain this discount through two $75 rebates until December 31, following the expiration of the previous $300 rebate on July 1.
Women’s Healthcare
A $792.9 million boost is directed towards women’s healthcare, targeting conditions such as endometriosis and pelvic pain, and supporting contraception and menopause management. This funding is expected to benefit hundreds of thousands of individuals.
Renters
The government will increase the maximum rates of Commonwealth Rent Assistance by 10%, marking the second consecutive year of such an increase. This measure aims to provide additional support to renters facing housing affordability challenges.
University Graduates
University graduates will see a reduction in their student debt, with a 20% decrease in outstanding Higher Education Loan Program (HELP) debts. Additionally, repayment thresholds will be lowered, easing financial pressures on recent graduates.
Construction Apprentices and Employers
Apprentices in the construction industry will receive $10,000 incentives, while employers can obtain $5,000 for priority hiring. These measures aim to bolster the construction workforce and address skill shortages.
Medicare Card Holders
Medicare card holders will benefit from increased bulk-billed GP appointments, enhancing access to primary healthcare services.
Families
Families will gain from improved childcare subsidies, reducing the financial burden of early childhood education and care.
Aged and Childcare Workers
New measures support aged and childcare workers with wage increases, recognizing their essential contributions to the community.
Losers
Small Businesses
Small businesses receive limited support in the budget, with no significant new measures announced to address their specific challenges.
Welfare Recipients
Welfare recipients will not see notable increases in JobSeeker payments, leaving some of the most vulnerable without additional financial assistance.
Lowest Income Earners
Individuals earning below the tax threshold will not benefit from the tax cuts, as their income levels do not meet the minimum requirement for taxable income.
Sheep Farmers
Sheep farmers face continued challenges with the ongoing phase-out of live exports, impacting their livelihoods and the broader agricultural sector.
These budgetary measures reflect the government’s priorities and the balancing act between providing relief to various groups while managing fiscal responsibilities.
Source: 9News
